Schlumberger Limited (NYSE:SLB) Stock Position Lifted by Cerity Partners LLC

Cerity Partners LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 45.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 321,362 shares of the oil and gas company’s stock after buying an additional 100,723 shares during the quarter. Cerity Partners LLC’s holdings in Schlumberger were worth $13,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger in the 3rd quarter worth about $29,000. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the 2nd quarter worth about $30,000. Finally, Riverview Trust Co lifted its holdings in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 1.0 %

Shares of SLB opened at $43.77 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a 50-day simple moving average of $42.85 and a 200-day simple moving average of $44.49. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The firm has a market capitalization of $61.81 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SLB shares. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Citigroup reduced their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Susquehanna lowered their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.